Wednesday, November 25News That Matters

Savage job cuts as Knowledge Corp revenues tumble by practically US$4m per week

The bloodletting in Australia alone save 1500 workers out on the avenue. But that’s no longer the tip of it: there are more cuts coming.

rupert-murdoch
Rupert Murdoch (Portray: AP Portray/Mary Altaffer)

Knowledge Corp has by no contrivance save a number on the swingeing job cuts staunch through its Australian newspapers and Foxtel this year — if fact be told it refuses to device so.

But we got an thought of factual how expansive they had been with info of a animated plunge in employee numbers at June 30 contained in its 10Sufficient submitting with the US Securities and Alternate Commission which is, essentially, its annual file for 2019-20.

It discloses that workers numbers fell by a massive 4500, or bigger than 16%, because it offered resources and lopped bigger than 1000 jobs in Australia alone. Revenues fell by virtually US$4 million per week, and more in the closing months of the year thanks to COVID-19 whacking advertising revenues and newspaper gross sales (highest in part offset by increased digital subscriptions).

In regards to the Creator

Glenn Dyer —

Glenn Dyer

Glenn Dyer is Crikey’s industry and media commentator.

Read More